Investing In Top Cannabis Stocks Before 2022
As the best marijuana stocks to buy continue to show significant volatility in December cannabis investors are getting ready for 2022. Although 2021 started off well for top cannabis stocks the delays in congress with federal cannabis reform have caused substantial declines in the cannabis sector. In December most pot stocks reached their lowest trading levels this year. But these lower price points could be an opportunity for investors for 2022. As the cannabis sector begins to show some upside in last week’s trading next year could deliver some upward momentum for pot stocks.
Investing in the US cannabis industry could be a significant growth play for the next five years. In the US more states continue to establish medical and recreational markets expanding the industry. In 2021 many leading cannabis companies delivered strong earnings and revenue growth. Although this did not translate into market gains it does show a rapidly growing market where leading cannabis companies are making strides.
As the cannabis market continues to grow on the state level these companies are expanding rapidly establishing their market share and foothold in the industry. Currently, many analysts are forecasting significant upside for some of the best marijuana stocks to buy. Because the cannabis sector has experienced intense volatility this year due to federal legalization there is currently potential for cannabis investors in US pot stocks.
Finding The Best Pot Stocks For 2022
Before investing in top cannabis stocks, it’s important to do your research on a company. Looking into a company’s financials and studying how a stock moves in the market can help you secure the best returns. As the market continues its end of the year rally let’s look at 4 top marijuana stocks for your 2022 watchlist right now.
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Best US Marijuana Stocks To Watch Before 2022
- Ayr Wellness Inc. (OTC: AYRWF)
- Verano Holdings Corp. (OTC: VRNOF)
- Curaleaf Holdings, Inc. (OTC: CURLF)
- Columbia Care Inc. (OTC: CCHWF)
Ayr Wellness Inc.
First on the list is Ayr Wellness Inc. which has built a strong presence in the Florida cannabis market. At the present time, the company is operating 42 dispensaries in Florida and a total of 59 stores nationwide. In addition, the company entered the Illinois market with the acquisition of Herbal Remedies Dispensaries, LLC. Ayr received a provisional license to sell adult-use cannabis at greater Boston dispensaries in Massachusetts. In October the company launched Kynd premium flower in Arizona. Also, the company opened its seventh affiliated operating dispensary in Pennsylvania. In December Ayr received approval to start operations in its 86,000 square feet Arizona cultivation and production facility.
Ayr released its third-quarter 2021 earnings with revenue of $96.2 million up 111% year over year. In general, the company had an adjusted EBITDA of $26 million up 40% year over year. Ayr sustained a US GAAP operating loss of $8.9 million which includes a one-time expense and non-operating adjustments of $34.9 million. In addition, the company provided Q4 2021 guidance for over 10% sequential growth and a flat Adjusted EBITDA from Q3 in Q4. For 2022 Ayr revised its Adjusted EBITDA target to $250-$300 million and maintained a 2022 revenue target of $800 million.
AYRWF Stock Performance
AYRWF stock closed on December 10th at $14.50 down 32.27% in the past month. Currently, the stock has a 52-week price range of $14.00-$37.50 and is down 39.02% year to date. According to analysts at Tip Ranks AYRWF stock has a 12-month average price target of $42.03 per share. In essence, this would represent an upside of 189.86% from its last trading price of $14.50.
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Verano Holdings Corp.
Next up is Verano Holdings one of the largest multi-state operators providing regulated cannabis products to US cannabis consumers. In general, the company produces premium cannabis products sold under its portfolio of consumer brands. To highlight, Verano has active operations in 11 states with 90 operational dispensaries nationwide, and 12 cultivation and processing facilities. Specifically, In Florida, the company has 40 dispensaries which is a significant presence in that market. Verano expects to surpass 92 dispensaries in 2021. Specifically, the company operates dispensaries under retail brands Zen Leaf™ and MÜV™ catering to both medical and adult-use markets. In October the company opened a dispensary with a drive-through on Flamingo Road in Las Vegas. On December 9th the company announced the opening of its 11th MÜV™ dispensary in 2021 in Orange Park, Florida.
Recently Verano completed the acquisition of TerraVida and The Healing Center. Ultimately, this acquisition gives Verano six dispensaries in Pennsylvania and a permit to build an additional three in the state. Earlier in the year, the company opened a flagship Pittsburgh dispensary with a four-lane drive-through. In November the company announced its third-quarter 2021 results with revenue of $207 million up 106% year over year. Additionally, gross profit increased 33% sequentially on an unadjusted basis to $133 million or 64% of revenue. In Q3 Verano expanded its footprint with seven new dispensaries across its core markets.
VRNOF Stock Performance
VRNOF stock closed on December 10th at $11.81 up 5.73% in the past five trading days. Currently, the stock has a 52-week price range of $9.86-$28.00 and is down 37.35% in the last six months. According to analysts at Market Beat VRNOF stock has a consensus price target of $33.25 per share. In this case, this would represent an upside of 181.5% from its last trading price.
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Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. is a US multi-state operator that provides packaged cannabis products and operates 113 retail locations nationwide. Additionally, the company has also begun expanding with Curaleaf International advancing the accessibility of medical cannabis products in Germany through its wholly-owned subsidiary Adven GmbH. Curaleaf has the popular brand Select one of its leading brands in the US. In November Curaleaf expanded its presence in three states with the acquisition of Tryke Companies. This acquisition adds assets in Arizona, Nevada, and Utah. Also, important Curaleaf has advanced its B Noble partnership in ten states including the New York medical market.
In November Curaleaf reported its third-quarter 2021 results with revenue of $317 million up 74% year over year. In detail, the company had an Adjusted EBITDA of $71 million an increase of 69% year over year. Curaleaf had Q3 2021 cash flow from operations of $52 million or 16% of revenue. As a result, gross profits in Q3 2021 on cannabis sales was $144 million up 61% year over year. The company also closed the acquisition of Los Suenos Farms bringing its current cultivation capacity to 4.4 million square miles. Last month the company opened its 38th Florida dispensary in Spring Hill.
CURLF Stock Performance
CURLF stock is closed at $9.50 on December 10th down 35.33% in the past six months. At the present time, the stock has a 52-week price range of $8.21-$18.38 and is down 22.90% year to date. According to analysts at Tip Ranks CURLF stock has a 12-month average price target of $18.70 per share. This forecast represents an upside of 96.84% from its last trading price of $9.50.
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Columbia Care Inc.
Columbia Care Inc. is positioned for significant growth in the state of New York. Recently the company acquired a 34-acre Long Island cultivation site has given the company one of the largest cannabis footprints to service the East Coast market. At the present time, Columbia Care operates in 18 US markets and operates 130 facilities including 99 dispensaries and 31 cultivation and manufacturing facilities. In October the company opened a Cannabis Dispensary in Missouri its first location in the state. This month the company announced it has opened its third dispensary in Virginia under the gLeaf brand. Also, in November Columbia Care announced it is bringing heavyweight champion Mike Tyson’s highly anticipated Tyson 2.0 Cannabis brand to Colorado. On December 8th the company announced a rebranding in the Florida market and its retail locations. The company will soon launch its new Cannabist retail design and experience.
Columbia Care delivered its third-quarter 2021 results with a record quarterly revenue of $132 million up 144% year over year. In general, the company saw a record quarterly Adjusted gross profit of $64.5 million an increase of 205% year over year. In addition, the company had an Adjusted gross margin of 49% and a record Adjusted EBITDA of $31 million up 634% year over year. The company revised its 2021 guidance to $470-$485 million and Adjusted EBITDA of $85-$95 million. In September the company received state approval to rebrand its retail footprint across all its 14 locations in Florida.
CCHWF Stock Performance
CCHWF stock closed on December 10th at $3.12 up 5.41% in the past five trading days. Currently, the stock has a 52-week price range of $2.79-$7.89 and is down 48.43% year to date. According to analysts at CNN Business CCHWF stock has a 12-month median price target of $10.00 per share. In this case, this would represent an upside of 220.51% from its last trading price of $3.12.
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